LONGi sets solar industry record for RD spending, according to PV Tech

Energy Press Releases Thursday April 12, 2018 08:37
XI'AN, China--12 Apr--PRNewswire/InfoQuest

Recently, PV Tech released an article about leading integrated high-efficiency monocrystalline module manufacturer and 'Silicon Module Super League' (SMSL) member [ https://www.pv-tech.org/editors-blog/top-10-module-suppliers-in-2017 ] LONGi Green Energy Technology. LONGi set a new solar industry R&D expenditure record in 2017, not only surpassing the two historical leaders, First Solar and SunPower, but also spending more in one year than any PV manufacturer to date.

According to LONGi's recently released 2017 annual financial report, total R&D expenditure in 2017 almost doubled to RMB 1.1 billion (US$175.7 million), up 96.67% from US$89.2 million in 2016.
LONGi reported total revenue of RMB 16.362 billion (US$2.59 billion) in 2017, up almost 42% from the previous year. Therefore, R&D spending accounted for 6.77% of revenue in 2017.

According to PV Tech's long-standing analysis of R&D spending [ https://www.pv-tech.org/editors-blog/10-years-of-rd-spending-analysis-of-12-key-pv-module-manufacturers ] of leading PV module manufacturers, only SunPower has come close to LONGi's level when, in 2015, R&D spending accounted for 6% of revenue and First Solar topped 5.1% in 2011.

However, one of the key metrics is that LONGi surpassed perennial top ranked R&D spenders, First Solar and SunPower, respectively, by a significant margin. Both companies cut R&D spending in 2017, the first time for SunPower in four years, while First Solar trimmed R&D spending for the third consecutive year.

In contrast, LONGi has increased R&D spending for six years in a row and has maintained a high-level of R&D investment over the last four years.

Initially, LONGi was a dedicated monocrystalline ingot and wafer producer, but in 2015, the company started producing monocrystalline solar cells and modules. Focused on high-efficiency PERC (Passivated Emitter Rear Cell) technology, R&D spending almost doubled each year after 2016.

However, in reporting R&D expenditure of US$175.7 million, LONGi also set a new annual solar industry spending record, according to PV Tech's analysis.
First Solar had previously held the record at US$143.9 million, set in 2014. First Solar remains the leader in R&D spending on a cumulative basis, reaching over US$1.11 billion between 2007 and 2017.

SunPower remains second ranked at over US$663 million in the same time period. However, LONGi has jumped ahead of several other PV manufacturers to take the third ranked position with over US$390 million in cumulative R&D spending since 2012.

Original PV Tech article can be found at: https://www.pv-tech.org/news/longi-sets-solar-industry-record-for-rd-spending
Photo - https://photos.prnasia.com/prnh/20180411/2102116-1

Latest Press Release

PTT Vows to Support the National Strategys Thailand 4.0, Joining hands with High-Speed Rail Linked 3 Airports (Don Mueang- Suvarnabhumi-U-Tapao) Bidding Winner

Mr. Chansin Treenuchagron, President & Chief Executive Officer, PTT Public Company Limited, has revealed the resolution of PTT's Board of Directors meeting today (October 19th) that PTT's BOD has approved Energy Complex Company Limited (EnCo) to join...

PEA is ready to stage Thailand Lighting Fair 2018 under the theme the future of light: smart, sustainable, human-centric

Recently, Sermsakul Klaikaew (center) Governor of Provincial Electricity Authority (PEA), Sompong Preeprem (2nd right), Deputy Governor (Planning and Power System Development), Nikom Lertmalligarporn (far right) Representative of Messe Frankfurt in...

PGNiG and Venture Global LNG Announce LNG Sales and Purchase Agreements for 2 Million Tonnes Per Year

For a 20-year term, Polish Oil and Gas Company (PGNiG) will receive liquefied natural gas from the USA for domestic customers or for resale. Under the agreements, PGNiG will purchase LNG on a free on board (FOB) basis starting from the commercial...

Trina Solar Supplies Modules to Ukraine#s Largest Solar Power Plant

Trina Solar Limited recently announced that the company has delivered 123MW of PV modules to a PV power plant project developed by DTEK, the largest private energy company in Ukraine. Upon completion, the project will become the largest PV power facility...

Trina Solar awarded gold medal again in renowned CSR rating

Trina Solar was recently awarded a gold medal for the second consecutive year as a recognition of its Corporate Social Responsibility (CSR) performance by EcoVadis, an independent third-party assessment organization. According to the report, Trina...

Related Topics